Saving Time and Cost with Tax
- October 25, 2019
- Posted by: Angela
- Category: Tax
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Various tax concessions exist that can save significant time and money, but they are often overlooked. You may want to save this article as a handy reminder to take advantage of these options whenever possible.
Proposed Tax Changes
- August 31, 2018
- Posted by: Angela
- Category: Tax
The Taxation (Annual Rates for 2018- 19, Modernising Tax Administration, and Remedial Matters) Bill was introduced into Parliament in June 2018. The Bill seeks to improve tax administration and modernise the revenue system by making tax “simpler and easier” for individuals.
Fringe Benefit Rules and Work Vehicles
- November 8, 2016
- Posted by: Angela
- Category: Fringe Benefit Tax, Tax
For those clients providing work-related vehicles to employees and companies who have shareholder work-related vehicles.
New Zealand Resident Determination
- November 8, 2016
- Posted by: Angela
- Category: Tax
For how to establish if an individual is tax resident in New Zealand
Changes to how SMEs Pay Tax
- June 6, 2016
- Posted by: Angela
- Category: SME, Tax
The Government has recently announced a package of proposed tax changes that intend to reduce compliance costs and make tax simpler for businesses. The package is part of the Inland Revenue’s big picture ‘Making Tax Simpler’ initiative that aims to modernise and simplify the tax system. While the proposal will generally apply to all businesses, the changes are expected to benefit small businesses the most.
FBT on Employer Provided Carparks
- February 29, 2016
- Posted by: Angela
- Category: Fringe Benefit Tax, Tax
Employers are required to pay FBT on non-cash benefits provided to staff. However, like most taxes, there are exemptions.
It is important to be aware of the exemptions to ensure FBT is not overpaid. One such exemption provides that benefits (other than travel, accommodation or clothing) provided and used on the employer’s premises will not be subject to FBT. The provision of carparks fits within this exemption category.
Changes to closely held Company Tax Rules
- November 3, 2015
- Posted by: Angela
- Category: Tax
In New Zealand, companies are often the preferred vehicle when setting up a new business. They are well understood, underpinned by well-functioning legislation, flexible, and liability is generally limited to the amount of a shareholder’s investment.
GST on Foreign Supplies
- November 1, 2015
- Posted by: Angela
- Category: GST Act, Tax
Imposing Goods and Services Tax (GST) on the digital economy has been a hot topic this year as New Zealand retailers push for equal GST treatment betweenn local and foreign suppliers.
